Happy New Year! We're excited to jump back in and see what the eCommerce world has to offer in 2024 - we have a feeling it'll be a big one. This week we bring you:
Impact of cookie depreciation on eCommerce and strategies for success
Boosting efficiency and retention with data-driven returns process
Catering to Gen Z's interests for business growth
Stay tuned for Fospha's brand new State of eCommerce report next week, covering the industry trends that transform eCom this year - and more big announcements 👀
📈 TikTok plans to increase the size of its US eCommerce business to $17.5 billion this year, aiming to grow tenfold and pose a significant challenge to Amazon.
🛍️ TikTok Shop, a rapidly expanding feature, enables in-app purchases through video scrolling, blending Amazon's shopping convenience with Instagram's discovery experience. Read more.
🌐 The digital advertising industry is preparing for a significant shift in 2024 with the complete abandonment of third-party cookies for targeting and measurement.
📊 This change, led by Google, will force the industry to find alternative methods for ad targeting and measurement.
🛡️ Brands are now focusing on gathering first-party data with user consent and finding privacy-conscious attribution solutions to stay competitive in a post-cookie landscape. Read more.
🏅 Messaging Makeover: As society becomes more diverse, brands will need to adapt their messaging to resonate with a wider range of audiences.
🏅 Cookie Crunch: The decline of third-party cookies will force marketers to find alternative ways to gather data and deliver personalized experiences.
🏅 AI for Customers: AI will continue to be a major factor, with AI-powered technologies like chatbots and virtual assistants becoming more sophisticated.
🏅 AI for External Ops: AI will also play a crucial role in data analysis and predictive modelling, helping marketers make data-driven decisions. Read more.
The H2 2023 State of eCommerce Report is your essential guide to the latest trends and strategies in the digital marketplace. Register now!
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💲 Meta and LinkedIn Beneficiaries of Declining Ad Spend on X
Controversy reduces ad spend on X - with Meta and LinkedIn winning off the back of that. According to Kantar, Google, YouTube, Instagram, Spotify and TikTok are all viewed by marketers as above-average in terms of trustworthiness. Read more.
With a shift towards generative AI like ChatGPT enhancing productivity in areas such as chatbots, copy generation, and social media listening. Read more.
By offering an omnichannel experience, simplifying access to product information and purchases across various platforms, including TV streaming. Read more.
📱 Gen Zers are shifting their cultural conversations to ad-free group chats and private online communities like Discord, making it challenging for brands to engage with them.
💬 Brands can engage with private communities by collaborating with influencers and leaders, or creating their own spaces, but must prioritise authenticity and value to resonate with Gen Z. Read more.
🔄 20-30%of eCommerce purchases are returned - but the often-neglected returns process presents untapped potential for retail growth and customer satisfaction.
⚡ Rapid and convenient returns can enhance inventoryefficiency, encourage repeat business, and minimise product obsolescence.
💡 Analysing return patterns and leveraging data are pivotal for tailoring processes that meet both customer expectations and business profitability. Read more.
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